Felix Resources (FLX)

Stock Code

FLX

Stock Exchange

Australian Securities Exchange

Felix Resources (FLX) is engaged in the operation, identification, acquisition and development of resource-related projects focusing primarily on coal. FLX was listed on the Australian Stock Exchange on the 1st of August 1970. Its average annual revenue reaches approximately $241 million out of its issued capital of $89 million. Its headquarters is located in Brisbane, Australia and to date; around 460 people are employed in the company. Included in the assets that Felix Resources operates and manages are Minerva Mine, Ashton Mine, Yarrabee Coal Mine, Athena, Moolarben Coalfield, Ultra Clean Coal Patented Technology, Harrybrandt and other assets. FLX is in the “Energy” sector and industry group and in the "Oil, Gas & Consumable Fuels" industry.

Minerva Mine is an open-cut and multi-seam mine established for the 2.5 million tonnes production of premium thermal coal and medium volatile PCI coal per year. Included in the markets of Minerva are Korea, Japan, India and Taiwan. Ashton is also an open-cut coal mine designed to produce 1.6 mtpa of semi-soft coking coal mainly for the company's export business. These coals are exported to different steelmakers in Asia.

Yarrabee is a coal mine located in Queensland's Bowen Basin 280 km north-west of the Port of Gladstone and 40 km north of Blackwater. This coal mine produces low volatile PCI coal. Athena is an unincorporated joint venture between Felix which owns 70% of this project and Sojitz which manages the remaining 30%.

Moolarben is located in New South Wales' Western Coalfields and is a resource for thermal coal situated 30 km north of Mudgee adjacent the Wilpinjong Coal project in the east and Ulan Coal Mine to the north-west. The Ultra Clean Coal patented technology (UCC) is also owned by Felix Resources. This technology is a process used in the chemically cleaned coal production. Harybrandt is an exploration project owned completely by FLX. This project is situated near Nebo in the Queensland's Bowen Basin.

Felix Resources Company History

Aulron and Ausmeld merged their forces to improve the marketing of Ausmelt's patented Auslron which was a ferrous smelting technology in 2002. The technology was developed to make pig iron from fine iron ore and steaming coal. This product was proven at the demonstration plant of South Australian Steel and Energy (SASE) in Whyalla from 2000 to 2002.

Felix produced around S$15 million capital for expenditures in establishing Ballymoney Project. Yarrabee which is a Resource Management and Mining was gained that same year. Because of this, the company’s name Aulron Energy was altered to Felix Resources. Memorandum of Understanding was signed with White Mining Limited share holders. All the issued capital of WML was taken by Felix and the two companies joined its operations. White Mining although not listed publicly, operated for 30 years as a development and coal production company.

Felix Resources became a member of Standard & Poor's S&P/ASX 300 index in 2005. Mining was done at Minerva and made the first export shipment that same year. 49% stake in Yarrabee Mine was purchased by Coal Resources Corporation. The majority stakes in Felix’s Minerva was taken by Felix.

Felix and Korea Resources Corporation owned by Korean government signed a Memorandum of Understanding. This understanding composed of a joint operation in mining coal, clean coal technology development and marketing. 10% of the Moolarben Coal Project interest was traded to Sojitz Corporation in June 2007. The company’s Director was Hans Mende in October 2007.